Sussex Business Times - Issue 403 2016

Page 62



SBT Ask the Experts is sponsored by




Neil Taylor, Sales and Marketing Director at Admiral Security

What basic security and safety measures does my business need? Today, many people discuss the risk of cyber security and data loss online, but what are you doing to protect your brick-and-mortar business? During work hours, how easy is it for someone to just wander off the street and into your offices? Making sure that there are CCTV and Access Control procedures in place allows you to monitor exactly who is coming in and out of the building and when – ensuring your business and its employees are safe. There are simple ways that your

EXPERT For small business owners, getting paid on time is crucial for success. But, invariably, not everyone can or will pay up when they should, so how can you encourage faster payments and improve cash flow in your small business? 1. Discuss payment terms from the get go Getting the payment terms sorted upfront means there won’t be any confusion further down the track. It also sets the 62

business can ensure it is protected; checking that all locks and windows are secure and if employees leave late, making sure they know the correct procedure to lock the building securely (e.g. how to work the alarm systems). What is the cost of burglary to the workplace? Everyone is at the risk of crime, especially SME’s, where loss can significantly impact the day-to-day running of the business. The cost of a burglary to a business is on average £13,570. This cost can include anything from loss of equipment, loss of wages, number of days closed and even emotional distress. Furthermore, you may be held liable if your employees suffer loss by theft whilst at work, so making sure your business and employees are properly protected with systems to secure your business is essential to avoid suffering severe losses.

What happens if you publicise your companies’ activities online? During holiday periods such as summer or Christmas, be aware that publicising that your company is closed or less employees are in attendance could draw in unwanted attention and put your company at risk to unwelcome individuals. Having intruder alarms and CCTV that can be monitored remotely can act as deterrents as well as give you peace of mind. Contact Admiral Security today on 01737 855900 or visit: for expert advice on how to keep your business and employees safe.

Glen Foster, Head of Partner Channel at Xero client’s expectations around payment before you start the work. 2. Maintain detailed records of inventory and time This will save time when it comes to creating the invoice and will make sure none of the details are missed. It also means you can instantly let your client know if your work is going beyond the budget. 3. Make invoices clear and easily understood List the details of the job in a way that makes sense to the client, as any sort of confusion can lead to a lag in payment. Personalise your invoice with your business logo and your bank details to speed up the payment process.

4. Use online invoicing and implement payment services Xero offers an online invoicing feature that encourages collaboration with your clients. Changes made to invoices are instantly updated, providing you with information about whether the invoice has been received, and also whether it’s been viewed. This, coupled with a payment service, can help get that payment in up to two weeks quicker. 5. Keep track of late payments When your payments become overdue, send reminders, monthly statements or make phone calls. Having a process that helps streamline invoicing can reduce the amount of time you spend chasing your payments.

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